CVS Health (NYSE:CVS) Sets New 52-Week High - What's Next?

Key Points

• CVS Health reached a new 52-week high of $75.99 during trading and has seen significant analyst activity, with price targets ranging up to $87.00.
• The company reported quarterly earnings of $1.81 EPS, exceeding forecasts, and announced a dividend of $0.665 to be paid on November 3rd.
• Institutional investors own 80.66% of CVS Health's stock, indicating robust interest from hedge funds and big investors.

CVS Health Corporation (NYSE:CVS - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $75.77 and last traded at $75.99, with a volume of 3672337 shares traded. The stock had previously closed at $74.42.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Wall Street Zen lowered shares of CVS Health from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Barclays upped their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.89.

CVS Health Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a market capitalization of $95.48 billion, a PE ratio of 20.97, a P/E/G ratio of 0.82 and a beta of 0.62. The company's 50-day simple moving average is $67.70 and its 200-day simple moving average is $66.55.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same period last year, the firm posted $1.83 EPS. CVS Health's revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health's payout ratio is presently 74.30%.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company's stock.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Avion Wealth boosted its stake in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator's stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of CVS Health in the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc boosted its holdings in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after buying an additional 248 shares during the period. Front Row Advisors LLC boosted its holdings in shares of CVS Health by 436.5% in the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator's stock worth $31,000 after buying an additional 371 shares during the period. Finally, McIlrath & Eck LLC boosted its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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